The National Assembly requested the Government to report comprehensively on the increase in electricity and gasoline prices.

Since March 20, the average retail electricity price has increased by 8.36%. Many households have reported that their electricity bills have doubled or tripled compared to before the price adjustment.

At the opening session of the 7th meeting on the morning of May 20, reporting on the socio-economic situation, Deputy Prime Minister Truong Hoa Binh said that the authorities are "inspecting and clarifying the increase in electricity prices, the method of calculating and collecting electricity bills, ensuring publicity, transparency, and compliance with legal regulations".

Many households reported that their electricity bills doubled or tripled compared to before the price adjustment.

Reviewing the Government's report later, Mr. Vu Hong Thanh - Chairman of the Economic Committee commented that the increase in prices of input goods, especially gasoline, electricity, medical services... has affected inflation and slowed down production growth.

"The Government is requested to fully report on the basis of the increase in gasoline and electricity prices and the impact on the consumer price index (CPI) and other economic and social aspects," Mr. Thanh emphasized.

The Chairman of the Economic Committee also suggested that the Government should strengthen forecasting, analyze developments, fully assess external risks, internal limitations of the economy and warn, propose backup plans, and make appropriate adjustments to avoid causing economic instability.

2019 is a "breakthrough" year to complete the goals of the 5-year socio-economic development plan 2016-2020, Mr. Thanh said, the Government's upcoming solutions to promote socio-economic development need to reduce administrative procedures in a more substantial and stronger way, and strictly handle violations in all fields, especially investment, construction and transportation.

At the same time, encourage the participation of the private economic sector to invest and build important national projects, promote the innovation and startup ecosystem, and create momentum for business development.

On the other hand, Mr. Thanh noted that it is necessary to strengthen coordination between the State Capital Management Committee at enterprises and the industry management ministry, creating favorable conditions for implementing power projects and developing renewable energy sources.

Previously, in the report sent to the Prime Minister by the Ministry of Industry and Trade on adjusting retail electricity prices, the agency said that the recent 8.36% increase in average retail electricity prices did not include the expected difference in electricity buying and selling exchange rates in 2018 of power plants, which is more than VND3,260 billion. If this cost is added, the total difference in electricity buying and selling exchange rates will be more than VND7,090 billion and then the average retail electricity price in 2019 will be about VND1,879.9 per kWh, equivalent to an increase of 9.26%.

Explaining the reflections of electricity bills doubling or tripling after the average retail electricity price increase from March 20, the Ministry of Industry and Trade said that the work of recording meter readings, closing readings, calculating electricity bills in the month of price change, applying retail electricity prices and paying electricity bills... are carried out in accordance with EVN's business processes and Government regulations.